Nice Kerry op-ed on how small businesses are helped by the healthcare bill

[karynnj]

It is obviously a MA paper, but I'm not sure from what town.

You hear politicians say over and over again that small businesses are the engine of our economy and absolutely vital in the work to put our economy back on track. We have heard for years from our small businesses themselves that the rising cost of health insurance has been a major financial challenge. Business owners desperately want to offer health care to their employees, both because it's the right thing to do and a boost to their competitiveness and their ability to recruit and retain skilled employees, but many cannot afford it or have to stop offering health care because of skyrocketing prices in the individual and small group market. For years, I pressed the Senate to pass tax credits to help small business with the cost of health insurance.

The good news? Help is on the way. The reforms we passed this year the Patient Protection and Affordable Care Act helps small businesses by providing a small business tax credit and creating an exchange for small businesses to purchase health care. Over 89,900 small businesses in Massachusetts will be helped by this new tax credit and it is expected that around 4 million small businesses nationwide will qualify for the tax credit which will save small business around $40 billion over the next 10 years.

For 2010, eligible small businesses will be able to receive a 35 percent credit per employee for the employer's contribution to health insurance. To be eligible, an employer will need to cover at least 50 percent of the costs of health care for their workers. Employers with 10 or less full-time employees are eligible for the full credit amount and the credit is reduced for employers with above 10 full-time employees and not more than 25. Eligible employees have average wages of less than $50,000. Small businesses can use the tax credit toward regular health insurance and can also choose to use it toward additional dental or vision plans if they would like. This will not only ease the burden for those businesses already providing coverage, but it will also help some small businesses offer coverage for the first time.
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I loved the years I spent chairing the Senate Small Business Committee because it gave me the chance not just to see the incredible innovation and creativity of our small business entrepreneurs, but to help them do what they do best: create jobs and products that generate economic growth. The incredible level of small business innovation that begins in Massachusetts is inspiring- and I will continue doing my part so small business innovators can keep their focus on moving forward not on choosing whether to hire the best new employees or afford to hold on to their health insurance.

http://www.dailynewstribune.com/opinion/x1218688660/Kerry-Help-for-small-businesses